BMW Financial Services India has announced the launch of BMW Lease, the new car leasing programme for individuals and corporate customers. BMW Lease enables a customer to drive a BMW of choice for a fixed period of time in return for a pre-decided lease rental.
Dan DeChristopher, the recently appointed managing director and chief executive officer of BMW India Financial Services, said: “BMW Financial Services in India is an integral part of BMW India’s success story, offering a portfolio of innovative tailor-made financing solutions along with unrivalled services. BMW Lease is a pioneering product, specially engineered for BMW customers, providing customised financing options, flexible lease tenures and better tax benefits. In the initial phase, BMW Lease will be launched in six states in India and will be soon offered across other BMW dealerships in the country. We are confident that BMW Lease will provide further impetus to BMW India sales.”
During the initial phase, BMW Lease will be offered in six states: Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra. The following BMW India dealerships will offer BMW Lease during the initial period: Deutschen Motoren (New Delhi), Bird Automotive (New Delhi), Bird Automotive (Gurgaon), KUN Exclusive (Hyderabad), KUN Exclusive (Chennai), Navnit Motors (Bangalore), Navnit Motors (Mumbai), Infinity Cars (South Mumbai), Bavaria Motors (Pune) and Munich Motors (Nagpur).
Dr Andreas Schaaf, President, BMW India, added: “The launch of BMW Lease is a significant milestone in our growth strategy in India. BMW Lease is an easy and hassle-free way of driving a BMW with reduced cost of ownership, better residual value, simple and flexible lease tenures along with the option to retain the vehicle or upgrade to a new BMW of choice.”
Under the BMW Lease programme, customers can choose between Finance Lease and Operating Lease. Under the Finance Lease arrangement, all substantial risks and rewards incidental to the ownership of the vehicle are transferred to the customer. At the end of the tenure, the customer is provided an option to retain the vehicle at a price substantially lower than the market price.
In the Operating Lease arrangement, BMW Financial Services India bears the risk of ownership of the vehicle, and at the end of the lease tenure a customer can decide to upgrade to a new BMW or purchase the vehicle at the prevailing market price.
BMW Lease products provide customers with several benefits such as a range of customised repayment options; flexibility to choose as well upgrade to a new BMW, flexibility to customise down payment, with an option of 100 percent funding of the vehicle cost, flexible contract terms, as well as tax benefits.
BMW customers also have the option to include BMW Service Inclusive (BSI); a comprehensive insurance program and BMW Secure Premium in their monthly rental.